FX.co ★ Actual patterns. Technical analysis and trading recommendations

The Triple Top pattern has formed on the chart of the AUDJPY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 91.23/91.27 with the upper limit 91.34/91.35; the projection of the width is 11 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 91.23, the price is most likely to continue the downward movement.

The Double Bottom pattern has been formed on AUDJPY M5; the upper boundary is 90.87; the lower boundary is 90.68. The width of the pattern is 21 points. In case of a break of the upper boundary 90.87, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

According to the chart of M5, AUDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 90.64/90.78 whereas the upper border goes across 90.96/90.78. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of AUDJPY will breach the upper border to head for 90.93.

According to the chart of M5, AUDJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 90.60 is likely to encourage a continuation of the downward trend.

On the chart of the AUDJPY M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 90.75, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 20 points.